Reverse Mortgages from Live Well Financial

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1 Reverse Mortgages from Live Well Financial

2 What is a reverse mortgage? A reverse mortgage is a tool that allows you to access the equity you ve built up in your home in the form of cash. Essentially, it works exactly opposite of traditional mortgages since you receive payments instead of making them. There are four ways to access your cash: Lump sum Line of credit Monthly advance Any combination of the above Live Well Financial s loan officers will help you make the decision that best suits your individual needs. All fees or charges can be financed with the reverse mortgage. That means no monthly payments and no out of pocket expenses to you. Protecting your children s inheritance With a reverse mortgage, you retain the title on your home and gain access to the equity you ve built up over the years. In many cases, these proceeds allow you to live independently, without having to rely on your children or family for financial support. Should you pass away, whatever equity still remains in the house can be left to your children or heirs. They can choose to sell the house, pay back the reverse mortgage, or apply for a traditional mortgage to finance the outstanding balance. Make an informed decision Any decision regarding your home is a big one. Live Well Financial understands your concerns and wants to ensure that you re making the right decision for you and your family. Independent counselors are available to help you understand these decisions. In many cases, these counselors are certified by the Federal Housing Administration (FHA). They ll offer you honest and helpful advice.

3 If you re like most people, you want the security of knowing that you can cover medical payments, long-term care costs, home repairs or improvements, debt repayments, travel and other expenses. You want to live comfortably. But you also need to live within your means. With a reverse mortgage from Live Well Financial, you can most likely do all of the above. If you re a homeowner age 62 or older, this financial tool could let you: Supplement your income with tax-free proceeds Make no monthly payments Pay no out-of-pocket expenses Get free, independent counseling Own, Enjoy, and Stay in your home Have EXTRA CASH

4 AVAILABLE CASH OR LINE OF CREDIT BASED ON HOME VALUE AND AGE* HOME VALUE $100,000 $150,000 $200,000 $250,000 $ 50,800 $ 79,830 $108,861 $116,844 $ 55,598 $ 86,878 $118,158 $126,760 AGE $ 60,704 $ 94,334 $127,965 $137,213 $ 66,059 $102,089 $138,119 $148,027 $ 71,516 $109,896 $148,276 $158,831 $ 76,849 $117,379 $157,909 $169,055 Assumes 5.39% initial monthly adjustable APR and 5.74% expected monthly adjustable APR for HECM product in Richmond City, VA, as of 8/24/05. * Availability subject to eligibility requirements. Other restrictions may apply. Closing costs will apply. Please contact Live Well Financial for more information. Frequently Asked Questions Q: Do I need to make any ongoing payments? A: No. Unlike traditional mortgages or home equity lines of credit, you do not need to make any ongoing payments. Q: Are there any out-of-pocket expenses associated with applying for a reverse mortgage? A: No. All closing costs can be financed with the proceeds from your reverse mortgage. Q: Can I lose my home? A: You will still own your home since you retain the title. Live Well Financial can set aside proceeds from your reverse mortgage to ensure that property taxes and homeowner s insurance are paid, should you choose that option. We can even help you set aside cash for future home repairs. Similar to most mortgages, as long as you continue to live in your home, keep up repairs, and pay property taxes and homeowner s insurance, you can stay in your home as long as you choose. Applying made easy Application. Complete and sign all application documents and obtain copies of picture ID, proof of date of birth, and proof of Social Security number. Counseling. Attend an independent financial counseling session. Appraisal. An FHA-licensed home appraiser and pest inspector will conduct an in-home inspection. Closing. Attend the closing session and sign closing documents. Start using your cash! Ask how we can help you right now. Learn more about this financial solution by visiting or by calling us toll-free at , Monday-Friday 8am-5pm (EST). We look forward to helping you. Your home has fulfilled many needs. We can too.

5 About Live Well Financial Live Well Financial is one of the largest direct marketers of reverse mortgages in the nation. Our goal is to offer each individual a tailored solution that best meets his or her life needs. Located in Richmond, Virginia, the Live Well Financial management team collectively has over 30 years experience in consumer financial services. By partnering with Financial Freedom and TitleWorks, we offer a wide range of reverse mortgage products and services to our customers. We would appreciate the opportunity to talk to you more about how we can help you. To find out more, contact us at the address below. We re here to help you make an informed decision. 20 N 20th Street / Suite A / Richmond, Virginia PHONE TOLL-FREE FAX